Category: Business

Ghana is set to deepen its trade and investment engagement with China with plans to open a new Trade Office in Nanjing, Shandong Province, in 2026, the Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has announced.

The minister disclosed the plan when the outgoing Chinese Ambassador to Ghana, H.E. Tong Defa, paid a farewell call on her in Accra on Thursday, January 22, 2026. She said the establishment of the Trade Office forms part of efforts to promote and strengthen bilateral trade and investment relations between the two countries.

According to a Facebook post by the Ministry, Ms Ofosu-Adjare indicated that Ghana is also ready to sign a Zero-Tariff Agreement with China, a move she said would further enhance trade flows and create new opportunities for Ghanaian exporters.

The Ministry of Trade, Agribusiness and Industry is planning to roll out a national consumer price transparency application as part of efforts to improve market accountability and protect consumers from arbitrary pricing.

The announcement was made by the Minister of Trade, Agribusiness and Industry, Ms Elizabeth Ofosu-Agyare, during the Government Accountability Series press briefing in Accra on January 21, 2026.

Ms Ofosu-Agyare said the application would allow traders to publish their prices on a digital platform, giving consumers the opportunity to compare prices across markets and decide where to shop based on cost.

Heath Goldfields Bogoso-Prestea Mine has paid a total of GH¢136 million towards the settlement of outstanding legacy liabilities to former workers of the Bogoso-Prestea mine. This marks a significant move in the company’s efforts to resolve inherited obligations and strengthen its operational and financial foundations. This is in accordance with the Memorandum of Understanding (MoU) agreed with the Ghana Mineworkers’ Union (GMWU). The payment forms part of a broader strategy by Heath Goldfields to address historical liabilities associated with its operations, while reinforcing its commitment to responsible mining, regulatory compliance…

Banks operating in Ghana wrote off GH¢1.39 billion in bad loans in the first ten months of 2025 as part of efforts to clean up balance sheets and manage persistent credit risks in the economy.

The surge in write-offs reflected deliberate steps by banks to deal with legacy loan losses, strengthen capital positions and improve asset quality amid cautious lending conditions.

Data from the Domestic Money Banks Income Statement showed that the write-offs represented a 56.7 per cent increase over the period, far above the 10 per cent rise recorded in October 2024, pointing to a more aggressive provisioning stance across the sector.

Spare parts dealers at Abossey Okai have rejected claims that high prices of vehicle components are responsible for the current shortage of public transport vehicles, insisting they should not be blamed for the hardship facing commuters.

The Chairman of the Abossey Okai Dealers Association, Frank Otchere, said prices of most spare parts have rather fallen, largely due to the appreciation of the cedi against the US dollar.

Speaking in an interview, Mr Otchere explained that components for private vehicles, including Toyota Vitz cars commonly used by ride-hailing services, have seen significant price reductions.

The Public Accounts Committee (PAC) of Parliament has directed that investigations be conducted into PSC Tema Shipyard over unpaid ground rent arrears and a controversial US$500,000 payment made to the Ghana Ports and Harbours Authority (GPHA), raising concerns about documentation lapses and possible conflict of interest.

According to the Auditor-General’s report, PSC Tema Shipyard is obligated to pay an annual ground rent of GH¢6,000 to GPHA over a 25-year lease period. However, GPHA has reported that the shipyard is in arrears to the tune of US$6.6 million.

The report indicated that management of PSC Tema Shipyard attributed the non-payment of the ground rent to prolonged financial difficulties. Despite these challenges, the Auditor-General noted that a payment of US$500,000 was made to GPHA in 2024.

Small businesses across the country are benefiting from significant tax relief following the increase in the Value Added Tax (VAT) registration threshold from GH¢200,000 to GH¢750,000 under the new VAT reforms. 

The change means that thousands of traders who previously fell within the VAT net will no longer be required to register for or charge VAT, easing their compliance burden.

In addition, the abolition of the flat rate system removes the automatic three per cent VAT charge that applied to some small businesses, further reducing operating costs. 

It follows the implementation of the new Value Added Tax Act, 2025 (Act 1151), which took effect on January 1 this year.